1 May 2009

China's Stimulus Spurs U.S. Business

China's efforts to quickly pump up its economy are providing a much-needed boost for U.S. businesses as well.

A growing number of companies, from tire and excavator makers to fast-food chains, are benefiting from China's $585 billion stimulus program, which has quickly funneled money into everything from bridges to consumers' pockets.

Just 11 days after the Chinese government approved a $930 million bridge and expressway project called Xiangshan Island Bridge, which will extend over the East China Sea and through mountain tunnels, massive orange drilling equipment was already on site.

Such speed is critical to U.S. industrial-equipment makers, which sell into that market and aren't benefiting nearly as quickly from U.S. stimulus spending.

Caterpillar Inc. Chief Executive James W. Owens says the company's excavator sales in China have returned to record levels in recent months, bouncing back from plummeting sales over the winter.


1 comment:

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